ALGN Trade on Jul 24, 2020 09:43 from CapitalMastery: Tradervue User Stock Trades.

Summary

Was long biased, but jumped the gun on the entry signal, and had to stop out on a pullback. ALGN did end up offering a good 5min 20ma cup entry, but I missed it at first, and then I chased it.

At that moment, I realized I was not trading well; the second I got back into ALGN, I started worrying about the trade; especially since my stop was technically almost $5. In addition, I happened to glance at the volume, and realized only around 150k volume had be done on the day; the stock was def NOT in play. I knew right then and there, I was not supposed to be in this trade, and that I was not in the right mindset for trading today. But unfortunately, I felt a ton of resistance to just closing out the trade for a small loss, and so ended up holding it through a little pullback before it went higher and I got out for a tiny profit (on re-entry that is). In the end, I ended up risking a much larger loss, all because I didn't want to take a small loss as soon as I realized I shouldn't be in the trade. This was my biggest mistake of the day. This is the exact trading behavior I need to overcome as this will continue to cause me larger than necessary losses. I need to do better.